The acquisition combines two recognized leaders in embedded processors and mixed-signal analog semiconductors, each with unique strengths in delivering products that enhance performance and efficiency in high-performance computing systems. The boards of directors of both companies have unanimously approved the transaction. Closing is expected in the first half of 2019, following approvals from IDT shareholders and relevant regulatory authorities.
Since 2016, Renesas has been executing its growth strategy to thrive in the global market and become a leading global provider of embedded solutions. As part of this initiative, Renesas is working to expand its analog solutions portfolio and strengthen its kit solutions that combine its microcontrollers (MCUs), systems-on-chips (SoCs), and analog products. These efforts will be supported by revenue growth in its focus areas: the automotive segment, which is expected to experience significant growth with autonomous driving and EV/HVs; the industrial and infrastructure segments, which are expected to advance with wireless communications, Industry 4.0, and 5G (fifth generation); and the rapidly growing IoT segment. Renesas views cumulative acquisitions as key enablers in achieving this growth strategy to deliver further additional growth. The completion of the acquisition of Intersil Corporation in February 2017 allowed Renesas to add industry-leading precision analog and power management capabilities to its product portfolio. Renesas is capitalizing on exciting opportunities in its core business segments by offering combined solutions. The transaction announced today further accelerates Renesas' growth strategy, delivering significant strategic and financial benefits.
